Below is the list of various economic data. But today, we need to focus on monetary policy of Europe. However, conditions of Europe are bad. A press conference would take place as their agenda of conversation is monetary policy.
EUR: Main Refinancing Rate at 5:15 PM
Measures: The interest rate on the main refinancing operations that provide the bulk of liquidity to the banking system
Scheduled 8 times per year
Next Release Date: July 21, 2022
The rate decision is usually priced into the market, so it tends to be overshadowed by the ECB Press Conference, held 45 minutes later. Source changed release frequency from monthly to eight times per year as of Jan 2015
Short term interest rates are the paramount factor in currency valuation – traders look at most other indicators merely to predict how rates will change in the future
Forecast- [0.00%]
Previous- [0.00%]
Actual- ?
Impact- The forecast figure seems to be neutral for base metals and the dollar while positive for bullions. The actual figure to release at 5:15 PM.
EUR: Monetary Policy Statement at 5:15 PM
Scheduled 8 times per year
Next Release: Jul 21, 2022
The ECB usually changes the statement slightly at each release. It’s these changes that traders focus on. Source first released in Mar 2016
It’s the primary tool the ECB uses to communicate with investors about monetary policy. It contains the outcome of their decision on interest rates and commentary about the economic conditions that influenced their decision. Most importantly, it discusses the economic outlook and offers clues on the outcome of future decisions
EUR: ECB Press Conference at 5:15 PM
Scheduled 8 times per year, about 45 minutes after the Minimum Bid Rate is announced
Next Release: Jul 21, 2022
The press conference is about an hour long and has 2 parts – first a prepared statement is read, then the conference is open to press questions. The questions often lead to unscripted answers that create heavy market volatility. The press conference is webcasted on the ECB website with a slight delay from real-time. Source changed release frequency from monthly to eight times per year as of Jan 2015
It’s the primary method the ECB uses to communicate with investors regarding monetary policy. It covers in detail the factors that affected the most recent interest rate and other policy decisions, such as the overall economic outlook and inflation. Most importantly, it provides clues regarding future monetary policy
USD: Unemployment Claims at 6:00 PM
Measures: The number of individuals who filed for unemployment insurance for the first time during the past week
Released weekly, usually on the first Thursday after the week ends
Next Release Date: June 16, 2022
This is the nation’s earliest economic data. The market impact fluctuates from week to week – there tends to be more focus on the release when traders need to diagnose recent developments, or when the reading is at extremes
Although it’s generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions. Unemployment is also a major consideration for those steering the country’s monetary policy
Forecast- [205K]
Previous- [200K]
Actual- ?
Impact- The forecast figure seems to be slightly negative for base metals and the dollar while positive for bullions. The actual figure to release at 6:00 PM.
Natural Gas Storage at 8:00 PM
Measures: Change in the number of cubic feet of natural gas held in underground storage during the past week
Released weekly, 5 days after the week ends;
Next Release Date: June 16, 2022
Inventories are used to maintain price stability during supply shortages and periods of increasing demand
Forecast- [94B]
Previous- [90B]
Actual- ?
Impact- The forecast figure seems to be slightly negative of Natural Gas The actual figure is to release at 8:00 PM.
For day to day economic data updates, stay tuned with us!
